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Nardi issues apology from jail
Riccardo Nardi has issued a frank apology to the travel industry after being jailed for four and a half years for swindling ABTA.
The former head of legal affairs said he “loved ABTA” and stressed the fraud, which cost ABTA almost £1 million, was not a “cynical and carefully planned attack” on the association.
In an open letter written from his cell in Wandsworth Prison, he said: “It was actually quite the opposite. It was rushed, panicked, unprofessional and ridiculous. My passion [for ABTA] was real for all to see and this is why my criminal actions are just not me. The real Riccardo Nardi is exactly the same person you all saw flying the flag for ABTA.”
He added the travel industry “deserved the truth”.
Charles Ward-Jackson, defending, told Middlesex Guildhall Crown Court that Nardi began siphoning off money to ease his financial worries. The motivation was not to indulge in a lavish lifestyle but to provide financial support for his wife and children, Mr Ward-Jackson said.
The only luxury items he purchased was a Porsche car and watches “which gave him no pleasure at all.”
Judge Duncan Matheson told Nardi he will have to live with his actions for the rest of his life. Far from helping his family, “he has left them destitute,” he added.
“Never in your life will you be trusted in a position of responsibility or seniority. You have destroyed your reputation and will inevitably be disbarred,” the judge said.
ABTA has started separate civil proceedings against Nardi’s wife, who was cleared of any wrongdoing, to recover some of the money defrauded by her husband.
ABTA welcomed the news that Nardi had been sentenced for defrauding the association of over a million pounds.
Chief executive Ian Reynolds said: “This was a serious crime, committed by a respected member of staff while holding a position of trust as head of ABTA’s legal services, and it is right that he should serve a prison sentence.”
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